“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. Office: 602-445-4113, Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
CLICK HERE: Kasten Long Commercial Group – TOWNHALL MEETING December 5, 2018
AZBIGMEDIA Real Estate / Commercial Real Estate REAL ESTATE | 25 Oct | AZRE
A view of Midtown Phoenix looking south towards Downtown Phoenix.
CBRE has released its Q3 MarketView reports, which analyze the third quarter performance of metro Phoenix’s office, retail and industrial commercial real estate sectors. Overall, the market exhibited strong activity across all property sectors.
“Metro Phoenix remains one of the fastest growing regions in the nation,” said Jessica Morin, Senior Research Analyst for CBRE’s Phoenix office. “Robust employment and population growth, combined with high levels of business confidence, underpin the positive performance of all commercial real estate sectors so far this year.”
According to CBRE Research, the top-level highlights include:
Q3 Office Highlights
- Net absorption in the third quarter totaled 599,884 square feet, resulting in 1.5 million square feet of net absorption year-to-date.
- Vacancy fell 110 basis points year-over-year to 15.7 percent. The Tempe submarket continues to hold the lowest vacancy in the market at 4.7 percent.
- Demand for Class B office space was particularly strong during the third quarter. As a result, vacancy fell 90 basis points quarter-over-quarter and 200 basis points year-over-year to 16.6 percent.
- Tightening vacancy put upward pressure on average rent. At the end of the quarter, the average leasing rate increased 3.3 percent annually to $26.03 per square foot (FSG-annual).
- Office demand outpaced new supply in the third quarter. Developers completed 194,000 square feet of office space in Q3 with an additional 3.3 million square feet underway. Nearly 73 percent of the space currently under construction is speculative development – signaling continued developer optimism in tenant demand. New development is highly concentrated in the Tempe and Chandler submarkets.
Q3 Industrial Highlights
- Net absorption reached 3,962,011 square feet in Q3 2018 and 7,739,857 square feet year-to-date.
- Overall, vacancy fell 160 basis points during the quarter to 5.7 percent—the lowest rate since Q4 2005.
- In the third quarter, 2,008,110 square feet of space was delivered. Currently, 7,739,857 square feet is underway, with speculative development accounting for 80 percent of this space. Construction is heavily concentrated in the Southwest Valley due to availability and affordability of land.
- Despite tightening conditions, the market’s average asking lease rate slipped from $0.64 to $0.63 NNN per square foot (monthly), where its hovered for the past few years.
- Industrial users across the Valley have become increasingly diverse. While manufacturing, third-party logistics, pharmaceutical, e-commerce, and food and beverage users remain active, data center users have increasingly expanded their footprint. The Valley continues to attract these users due to the ease of access to major national and international markets, comparatively affordable lease rates, and the availability and affordability of labor and land.
Q3 Retail Highlights
- Big-box users were particularly active in Q3 2018, absorbing more than 550,000 square feet of space. This was offset by recent big box move-outs including Sears, K-Mart, Sam’s Club and Toys “R” Us.
- The Phoenix retail market recorded 259,915 square feet of net absorption in the third quarter. Year-to-date, net absorption was 147,471 square feet.
- The marketwide vacancy rate edged up 10 basis points over the last 12 months to 8.4 percent.
- The Phoenix retail market’s average asking lease rate settled at $17.95 per square foot (NNN).
AEE IT ALL: https://azbigmedia.com/report-phoenix-cre-market-shows-strong-activity-across-all-sectors/
FROM ME:
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME – Office: 602-445-4113, Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net
“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME.
Office: 602-445-4113, Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
WEEKLY APARTMENT CLOSING UPDATE THROUGH NOVMEBER 30, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH NOVMEBER 23, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH NOVMEBER 16, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH NOVMEBER 2, 2018, Phoenix Arizona Metro.
This map has many lawyers. It was created by the ACA. Just in case you don’t know of it already.
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
Click here: TOWN HALL MEETING DEZEMBER 5, 2018: Investing in Opportunity Zones
History of Arizona from 900 BC – 2017 -Timeline.
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Office: 602-445-4112
Direct: 602-759-1209
Cell: 520-975-5207
Fax: 602-865-7461
8 Reasons You Should Invest in Land
History of Arizona from 900 BC – 2017 -Timeline.
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION
ARIZONA FACTS – YEAR 1848 TO 2013
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017
LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17
Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
Click here to View My Listings and Profile
Click here to find out what is a CCIM:
Click here to view my website:
Click her to join my mailing list :
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Office: 602-445-4112
Direct: 602-759-1209
Cell: 520-975-5207
Fax: 602-865-7461
Check out my professional profile and connect with me on LinkedIn.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Reasons to Consider me for Commercial Referrals
Delivering the New Standard of Excellence in Commercial Real Estate
- Commercial Real Estate Scottsdale
- Commercial Real Estate Phoenix
- Commercial Real Estate Arizona
- Commercial Investment Properties Phoenix
- Commercial Investment Properties Scottsdale
- Commercial Investment Properties Arizona
- Land Specialist Arizona
- Arizona Land Specialist
- Land Specialist Phoenix
- Phoenix Land Specialist
- Land For Sale Phoenix
- Land for sale Arizona
- Commercial Properties For Sale Phoenix
- Commercial Real Estate Sales Phoenix
- Commercial Properties Phoenix
- Commercial Properties Arizona
- Commercial Land Specialist Phoenix
- Commercial Land Phoenix
- Multifamily land Phoenix
- Retail Land Phoenix
- Industrial Land Phoenix
- Land Commercial Phoenix
- Land Retail Phoenix
- Land Industrial Phoenix
- Land Multifamily Phoenix
- Industrial Land for sale Phoenix
- Land Industrial
- P
- Investment Real Estate
Disclaimer of Liability
The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.